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Local Tech Wire

A roundup of the latest high-tech and life science news from regional firms:

  • Nortel wraps up sale of GSM-GSMR business to Ericsson, Kapsch

MONTREAL —  Nortel Networks (OTC: NRTLQ) on Thursday announced it has completed the $103 million sale of its GSM-GSMR wireless business to Sweden’s Ericsson and Austria’s Kapsch.

Announced on Nov. 25, the sale awaits confirmation by U.S., Canadian and French courts.

"Ericsson has purchased assets relating to the North American GSM business, and Kapsch has purchased assets relating to the EMEA and Taiwan GSM businesses. Kapsch has also acquired the global assets of the GSM-R business," Nortel said in a statement.

The deal calls for transferring 670 Nortel jobs to its buyers.

  • Cisco said to be looking for Chinese investment, acquisition opportunities

NEW YORK — Cisco Systems Inc (NasdaqGS: CSCO) is poised to step up investment and acquisitions in China regardless of trade frictions between Beijing and Washington, aiming to secure its place in a tricky but pivotal market, the Reuters news agency reported.

Already the world’s largest Internet and mobile phone market, China is likely to become even more crucial to the network equipment-maker’s growth as the country’s burgeoning middle class gains access to new technology.

Cisco also faces growing competition from Chinese companies, unlike other U.S. tech heavyweights like chipmaker Intel Corp or Microsoft Corp. that enjoy overwhelming leads in their markets. Cisco will likely pursue local joint ventures and acquisitions to compete against the likes of Huawei Technologies Co. Ltd. and ZTE Corp., Reuters said.

  • Charlotte-based Cash Cycle Solutions acquires California firm

CHARLOTTE, N.C. — Cash Cycle Solutions, Inc. announced Friday that it is acquiring San Diego-based Sea-Net Holdings, Inc., and its ZDI operation. ZDI will join with CCS’s document solutions group, combining their digital products and print/mail services creating a true national presence in the industry, Cash Cycle Solutions said.

"Not only has our market continued to increase demands for multiple locations for disaster recovery and national mail drops, but CCS has a strong presence in industries where we don’t and we have a strong presence in industries where CCS doesn’t," said ZDI CEO Donald Greenspan.

  • Scynexis presents positive results from two studies of investigative hepatitis drug

RESEARCH TRIANGLE PARK, N.C. — Drug discovery company Scynexis, Inc., Friday presented results from two separate studies of SCY-635, its oral cyclophilin inhibitor being studied for the treatment of hepatitis C virus (HCV) infection.

Scientists presented at the European Association for the Study of the Liver’s annual meeting in Vienna, Austria, Scynexis said.

One presentation outlined results from an in vitro study demonstrating that SCY-635 is not associated with an increased risk of hyperbilirubinemia in 15-day clinical studies and may be uniquely positioned in the cyclophilin inhibitor class, the company said.

The other presentation outlined the effects of SCY-635 in in vitro studies on collagen production and fibrosis and suggests the drug may have an anti-fibrotic effect independent of demonstrated anti-HCV activity. SCY-635 will enter Phase 2 studies in HCV in the second half of 2010, Scynexis said.